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Committee hears finance summary: operating revenues near target; $200M CIP driven by multi-year projects and DWSRF reimbursement
Summary
Kalamazoo City finance staff told the Utility Policy Committee that 2025 operating expenses ran below budget, operating revenues were about 95% of target, and the large $200M capital plan reflects multi-year carryovers and DWSRF and bonding timing rather than one-year spending.
Peter Hefner, speaking from the committee, summarized the city's 2025 utility financials and why capital-expenditure totals differ from year-to-year. He told members operating expenditures were budgeted at roughly $25 million and recorded near $19.4 million for 2025, and operating revenues were about 95% of budget in the report the committee received.
Hefner and city finance staff (Stephen) explained that the CIP's near-$200 million figure includes multi-year projects, carryovers from prior years and one large $100 million DWSRF (Drinking Water State Revolving Fund) project that…
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